Residential
Foreclosure/REO Loans
Unlock the door to homeownership with CMRE's Foreclosure/REO Loans, designed to help you purchase properties at potentially significant discounts. With competitive rates starting at 6.875% and flexible terms, we can help you navigate the complexities of purchasing foreclosed homes and REO properties. Let CMRE guide you through the process and turn your real estate dreams into reality.
Program Benefits
Potential for significant savings by purchasing properties below market value.
Competitive interest rates starting at 6.875% to help you manage your monthly payments.
Flexible loan terms to suit your individual financial needs.
Opportunity to acquire properties with unique characteristics and potential for appreciation.
Expert guidance from CMRE's experienced loan officers throughout the foreclosure/REO purchasing process.
Simplified application process to make your home buying experience as smooth as possible.
Program Highlights
Max LTV
97%
Min Credit Score
620
Max DTI
55%
Loan Amount Range
$50,000 - $2,000,000
Amortization Options
Eligible Properties
- Single Family
- Townhouse
- Condo
- Multi-Family (up to 4 units)
Program Requirements
Income Documentation
- •Stable and verifiable income history.
- •Debt-to-income ratio that meets program guidelines.
- •Proof of consistent employment or self-employment.
- •Sufficient income to cover mortgage payments, property taxes, and insurance.
Asset Verification
- •Sufficient funds for down payment and closing costs.
- •Verification of funds through bank statements and other documentation.
- •Reserves to cover several months of mortgage payments.
- •Acceptable asset types include savings, checking, and investment accounts.
Insurance & Title
- •Homeowners insurance policy to protect against property damage.
- •Flood insurance if the property is located in a flood zone.
- •Title insurance to protect against ownership disputes.
- •Proof of insurance coverage prior to closing.
Property Requirements
- •Minimum FICO score of 620.
- •Review of credit history to assess creditworthiness.
- •Explanation for any past credit issues or delinquencies.
- •Demonstrated ability to manage debt responsibly.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
A foreclosure is the legal process by which a lender takes possession of a property due to the borrower's failure to make mortgage payments. An REO (Real Estate Owned) property is a property that has gone through the foreclosure process and is now owned by the lender.
The primary advantage is the potential for significant savings, as these properties are often priced below market value. They can also offer opportunities to acquire properties with unique characteristics or in desirable locations.
Potential risks include the property's condition (which may require repairs), the presence of liens or encumbrances, and the possibility of competition from other buyers. It's essential to conduct thorough research and due diligence before making an offer.
The minimum FICO score required for a CMRE Foreclosure/REO Loan is 620.
Sam K.
Senior Loan Strategist
With over 15 years in the mortgage industry, Sam specializes in complex jumbo and non-qm financing solutions, helping clients navigate unique financial landscapes.
NMLS #12345 | Certified Mortgage Advisor (CMA)
TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
